There's an old saying on Wall Street about insider buying: there are many possible reasons to sell a stock, but only one reason to buy. Back on November 27, Newmont Corp's Director, Harry M. Conger IV, invested $400,335.00 into 9,498 shares of NEM, for a cost per share of $42.15. Bargain hunters tend to pay particular attention to insider buys like this one, because presumably the only reason an insider would take their hard-earned cash and use it to buy stock of their company in the open market, is that they expect to make money. In trading on Tuesday, bargain hunters could buy shares of Newmont Corp (Symbol: NEM) and achieve a cost basis 3.7% cheaper than Conger IV, with shares changing hands as low as $40.59 per share. Newmont Corp shares are currently trading down about 2.5% on the day. The chart below shows the one year performance of NEM shares, versus its 200 day moving average:
Looking at the chart above, NEM's low point in its 52 week range is $29.42 per share, with $58.72 as the 52 week high point — that compares with a last trade of $41.32. By comparison, below is a table showing the prices at which NEM insider buying was recorded over the last six months:
| Purchased | Insider | Title | Shares | Price/Share | Value |
|---|---|---|---|---|---|
| 11/27/2024 | Harry M. Conger IV | Director | 9,498 | $42.15 | $400,335.00 |
Click here to find out which 9 other dividend bargains you can buy cheaper than insiders »
Also see:
CMLF shares outstanding history
Institutional Holders of FBK
Funds Holding ACDC
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
